After completing school, you had student loans totalling $$25,000\mathrm{.}00.$ With an interest rate of $4\mathrm{.}75\%,$ you have been paying on the loan amount for almost $9$ years and have finally reached your LAST PAYMENT!

Calculate the monthly payment and Outstanding Balance on this loan, after $8$ years and $11$ months, then use this information to complete the table below.

Monthly Payment:

Complete the steps to show work used to calculate the remaining balance on this loan.

Enter the values needed for the LEFT and RIGHT sides of the amortization formula.

LOOK AT YOUR FORMULA SHEET.

Be sure to use parentheses as shown in class and $*$ to show multiplication:

SIMPLIFY the EXPONENT for your expressions.

$**$HINT: You do not need parentheses for a single value in an exponent $**$

LHS: $P.$

RHS:

Now simplify your RHS and LHS to enter the values from both sides of your formula below, keeping at least $6$ decimal places:

$P.=$

Outstanding Balance after $107$ months:

$($Round to the nearest cent$)$

Round all values in table to the nearest cent.

$\backslash$table$[[$Month$,\backslash$table$[[$Monthly$],[$Payment$]],\backslash$table$[[$Interest on Prior$],[$Balance$]],$Principle,$\backslash$table$[[$Outstanding Balance $($Give$],[$or take a penny!$)]]],[\backslash$table$[[8$ years, $11],[$months$]],,,,]]$

What is the total of all payments made on this loan?

What is the total of all interest paid on this loan: